Calamos Advisors LLC Cuts Stake in Vertiv Holdings Co (NYSE:VRT)

Calamos Advisors LLC reduced its position in shares of Vertiv Holdings Co (NYSE:VRT) by 22.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 304,374 shares of the company’s stock after selling 89,603 shares during the period. Calamos Advisors LLC’s holdings in Vertiv were worth $14,619,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in VRT. First Horizon Advisors Inc. raised its stake in Vertiv by 161.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the company’s stock valued at $25,000 after purchasing an additional 409 shares during the last quarter. Clear Street Markets LLC purchased a new position in shares of Vertiv in the fourth quarter worth about $27,000. Brown Brothers Harriman & Co. boosted its position in Vertiv by 648.5% during the first quarter. Brown Brothers Harriman & Co. now owns 2,500 shares of the company’s stock worth $35,000 after acquiring an additional 2,166 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in Vertiv during the 3rd quarter valued at about $38,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Vertiv during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VRT shares. Oppenheimer began coverage on shares of Vertiv in a report on Friday, April 5th. They issued an “outperform” rating and a $96.00 target price on the stock. Mizuho upped their price objective on Vertiv from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Bank of America upped their price target on Vertiv from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. boosted their price objective on Vertiv from $65.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Citigroup lifted their price objective on shares of Vertiv from $69.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.56.

Vertiv Stock Down 4.8 %

Shares of VRT traded down $3.86 during midday trading on Friday, reaching $77.15. 4,076,769 shares of the company were exchanged, compared to its average volume of 7,417,398. Vertiv Holdings Co has a 1-year low of $11.95 and a 1-year high of $88.69. The stock has a 50-day moving average price of $74.10 and a 200-day moving average price of $55.62. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. The company has a market cap of $29.47 billion, a price-to-earnings ratio of 64.97, a P/E/G ratio of 1.30 and a beta of 1.59.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Vertiv had a return on equity of 39.46% and a net margin of 6.71%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. Research analysts expect that Vertiv Holdings Co will post 2.36 earnings per share for the current year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio is currently 8.47%.

Insider Buying and Selling

In related news, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the sale, the executive vice president now owns 51,841 shares in the company, valued at $3,641,311.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by company insiders.

About Vertiv

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.